17 Best Medical Billing Software Reviewed for 2024
10 Best Medical Billing Software for Small Business Shortlist
Here's my pick of the 10 best software from the 17 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Navigating the world of medical practice management is no small feat. As someone involved in medical practice, I understand the complex dance between billing companies, clearinghouse operations, and on-premise workflows. Juggling the needs of payers, managing appointment scheduling, and coordinating with billers are all part of the daily routine. An effective medical practice management software is necessary— your comprehensive billing platform streamlines end-to-end operations, from patient data management to medical coding.
I've learned the pivotal role that an in-house medical billing solution plays in maintaining profitability. With medical claims, an efficient solution ensures precise medical coding and accurate claim submission, eliminating costly errors. A robust practice management software simplifies the administrative workload and helps your practice to the ever-evolving healthcare regulations. I assure you that finding the right software solution will revolutionize your practice's efficiency and financial health.
What is Medical Billing Software for a Small Business?
Medical billing software for small businesses represents a critical tool healthcare providers, administrators, and billing specialists utilize to streamline the complex process of managing patients through a Medical Billing system. It automates and simplifies various tasks such as invoicing, processing insurance claims, and tracking payment statuses, thereby improving revenue collection and revenue cycle management (RCM) accuracy and efficiency.
Equipped with features designed to handle patient demographics, charge entry, claim management, and reporting, this software proves essential for tiny medical practices - aiming to reduce administrative burden, minimize errors, and enhance patient service. By integrating such software, courses can devote more time to patient care, driving business growth and patient satisfaction.
Best Medical Billing Software for Small Business Summary
| Tools | Price | |
|---|---|---|
| WebPT | From $3/user/month (billed annually) | Website |
| Therapy Notes | From $49/user/month. | Website |
| Kareo | From $110/user/month | Website |
| Practice Fusion | From $149/user/month (billed annually) | Website |
| AdvancedMD | From $429/user/month, (billed annually). | Website |
| NextGen Healthcare EHR | From $429/user/month, (billed annually). | Website |
| DrChrono | From $199/user/month (billed annually) | Website |
| athenaOne | Pricing upon request | Website |
| Rectangle Health | Pricing upon request. | Website |
| Raintree Systems | From $200/user/month. | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareBest Medical Billing Software for Small Business Reviews
WebPT
Best for physical therapists seeking specialty-specific solutions
WebPT is a medical billing software specifically designed for physical therapists, providing a suite of features tailored to their unique needs. Focusing on specialty-specific solutions makes it an excellent choice for physical therapists looking to streamline their practice management and billing processes.
Why I Picked WebPT: I selected WebPT for this list due to its specialized focus on physical therapy practices, a feature that sets it apart from general medical billing software. It provides a tailored approach that will significantly benefit therapists. WebPT is best for physical therapists as it speaks directly to their unique challenges and demands.
Standout Features & Integrations:
WebPT boasts features such as electronic medical records (EMR), scheduling, and billing, all custom-designed for physical therapists. Additionally, it integrates with various third-party apps, such as Therabill, for comprehensive billing and invoicing solutions.
Pros and cons
Pros:
- A comprehensive suite of features.
- Affordable starting price.
- It is tailored specifically for physical therapists.
Cons:
- Requires learning to utilize all features effectively.
- Limited utility for non-physical therapy practices.
- Additional features may increase costs.
Best for mental health professionals with a focus on note-taking
Therapy Notes is a software designed with mental health professionals in mind, focusing mainly on note-taking. Its specialized features provide therapists with an intuitive and easy way to manage their practice, maintaining detailed notes with minimal effort.
Why I Picked Therapy Notes: Therapy Notes stood out for its specific design in my selection process, catering to mental health professionals and their note-taking needs. Its unique approach to handling clinical notes is a significant differentiator. Considering these factors, it made sense that Therapy Notes would be the best choice for mental health professionals requiring robust note-taking capabilities.
Standout Features & Integrations:
Therapy Notes features a high-quality note-taking function, scheduling, to-do lists, and billing systems, creating an all-in-one platform for mental health professionals. On the integration front, Therapy Notes can interface with credit card processors and electronic health records systems, allowing for an efficient workflow within one platform.
Pros and cons
Pros:
- Smooth integration with credit card processors and EHR systems.
- Comprehensive platform with scheduling, billing, and to-do lists.
- The high-quality note-taking function is tailor-made for mental health professionals.
Cons:
- The interface might be complex for some users.
- The starting price may be high for individual or small practices.
- The lack of a free trial might deter potential users.
Kareo
Best for independent practices with tailored modules for specific needs
Kareo is a comprehensive healthcare management platform designed with the specific requirements of independent practices. It offers tailored modules that address unique needs, providing a customizable solution ideal for smaller practices seeking specificity and flexibility.
Why I Picked Kareo: In my selection process, Kareo emerged as a distinctive tool for independent practices. What makes it stand out is the modularity of its system, allowing it to be tailored to the unique requirements of different methods. This flexibility positions Kareo as the top choice for independent practices with specific needs.
Standout Features & Integrations:
Kareo shines with features like patient scheduling, billing, and secure messaging. It also provides detailed reporting and analytics tools that aid in practice management. Moreover, Kareo integrates smoothly with various EHR systems and offers API integration capabilities for maximum adaptability.
Pros and cons
Pros:
- Provides integration capabilities for maximum adaptability.
- The comprehensive feature set includes scheduling, billing, and messaging.
- Offers a tailored solution for independent practices.
Cons:
- Some users report occasional issues with customer service.
- It requires time and effort to learn all features.
- Pricing can become high when adding extra modules.
Best for user-friendly EHR with customizable templates
Practice Fusion is a robust medical billing software that integrates a user-friendly Electronic Health Record (EHR) system with customizable templates. This makes it an excellent tool for medical practices aiming for ease of use without sacrificing the flexibility of customization.
Why I Picked Practice Fusion: Its user-friendly interface and customizable templates stood out when deciding on Practice Fusion for this list. This blend of simplicity and customization is unique in many EHR systems, setting Practice Fusion apart. Therefore, it's my choice as the best for those seeking a user-friendly EHR with customizable templates.
Standout Features & Integrations:
Practice Fusion's EHR has adaptable templates suitable for various specialties, making it easy to tailor the system to specific needs. Its charting feature allows healthcare providers to document patient encounters efficiently. Practice Fusion works well with several lab and imaging centers, pharmacies, and billing solutions for integrations, offering a seamless workflow.
Pros and cons
Pros:
- A broad range of integrations for comprehensive care management.
- Customizable templates allow tailored use.
- User-friendly interface reduces the learning curve.
Cons:
- Some users report occasional slow system response times.
- The absence of a free trial could deter potential users.
- Higher monthly costs might be prohibitive for small practices.
AdvancedMD is a robust medical software providing an all-in-one platform that covers the spectrum of health management tasks. Its powerful features make it a top choice for practices looking to automate processes and streamline operations.
Why I Picked AdvancedMD: When evaluating options, I chose AdvancedMD for its impressive capacity to automate various tasks in a healthcare setting. The tool stands out with its all-in-one approach, covering everything from electronic health records (EHR) to practice management and patient engagement. It's the best for practices desiring an automated, comprehensive operation platform.
Standout Features & Integrations:
AdvancedMD features extensive automation capabilities, including auto-reminders, scheduling, and billing. It also supports telemedicine, adding flexibility to any practice. Integrations are equally impressive, featuring connections with labs, pharmacies, radiology centers, and more for holistic patient care.
Pros and cons
Pros:
- Supports telemedicine.
- An all-in-one platform covering various tasks.
- Extensive automation capabilities.
Cons:
- Custom pricing may lack transparency.
- It may require a learning curve for full feature utilization.
- Higher price point than some competitors.
Best for integrative approach to EHR and practice management
NextGen Healthcare EHR is an all-inclusive platform that merges electronic health records (EHR) and practice management solutions for a comprehensive healthcare system. Its integrative approach makes it an ideal option for those seeking a unified EHR and practice management solution.
Why I Picked NextGen Healthcare EHR: When deciding on a tool that offers an integrative approach to EHR and practice management, I chose NextGen Healthcare EHR. Its ability to provide a single platform for both EHR and practice management sets it apart from others. This cohesiveness makes me believe that NextGen is the optimal choice for those seeking a comprehensive approach to healthcare management.
Standout Features & Integrations:
NextGen Healthcare EHR has features like customized templates for various specialties, patient portals, and e-prescribing. The tool also allows for integrations with third-party billing and accounting software, patient scheduling tools, and telehealth platforms.
Pros and cons
Pros:
- Integrates with a variety of third-party software for enhanced functionality.
- Customizable templates for various medical specialties.
- Offers a comprehensive solution for EHR and practice management.
Cons:
- Some users may find the interface less intuitive than other EHR platforms.
- The learning curve might be steep due to its comprehensive nature.
- The starting price may be high for smaller practices.
DrChrono is a feature-rich, intuitive EHR and practice management software designed to help practices improve patient experience and streamline workflows. It offers unique capabilities, including an on-patient feature for easy patient check-in, directly aligning with its mission of modernizing patient interactions.
Why I Picked DrChrono:I selected DrChrono for its forward-thinking approach to patient management, particularly its on-patient feature, which sets it apart from competitors. This distinctive feature provides an innovative solution to patient check-in, making DrChrono the best choice for practices seeking to improve the patient arrival experience and reduce waiting times.
Standout Features & Integrations:
DrChrono offers several notable features, like customizable medical forms, a patient portal, and appointment reminders, all aimed at improving operational efficiency and patient satisfaction. The on-patient feature lets patients check in from their devices, streamlining the process. As for integrations, DrChrono effectively connects with major labs and pharmacies nationwide and offers API integration for more custom solutions.
Pros and cons
Pros:
- Customizable medical forms and reports.
- Extensive integration options.
- Unique on-patient check-in feature.
Cons:
- Annual billing can be less flexible for some practices.
- Advanced features are only available in higher tiers.
- Pricing can be high for smaller practices.
Best for cloud-based comprehensive care across clinical and financial areas
athenaOne is a unified, cloud-based healthcare suite designed to streamline various healthcare operations, including billing, clinical care, and patient engagement. This platform provides a comprehensive solution that bridges clinical and financial areas, making it the top choice for practices seeking integrated care capabilities.
Why I Picked athenaOne: In selecting tools for this list, I was impressed by athenaOne's comprehensive, cloud-based approach to healthcare management. This platform uniquely marries clinical and financial workflows, delivering an all-in-one solution many others don't offer. AthenaOne is best for those seeking a cloud-based solution to handle a broad spectrum of clinical and financial tasks.
Standout Features & Integrations:
athenaOne features a robust suite of tools, including electronic health records (EHR), revenue cycle management, patient engagement, and care coordination capabilities. It also boasts a top-rated mobile app for on-the-go access. For integrations, athenaOne shines with a wide array of connections with lab systems, imaging centers, pharmacies, and health information exchanges.
Pros and cons
Pros:
- Top-rated mobile app for easy access.
- Wide range of integrations.
- Comprehensive, cloud-based solution.
Cons:
- Some features may have additional costs.
- It might be overwhelming for smaller practices.
- Tailored pricing can be less transparent.
Rectangle Health is a specialized healthcare payment solution designed to manage and streamline payment transactions in a medical environment. It's designed to bolster security and efficiency in healthcare payment processing, a characteristic that makes it particularly suitable for medical settings.
Why I Picked Rectangle Health: Rectangle Health emerged as a solid pick in my quest to find a reliable solution for secure payment processing in medical settings. This selection is mainly due to its focus on secured transactions, the patient payment experience, and smooth integration with existing practice management systems. These strengths affirm my conviction that Rectangle Health is ideally suited for fast payment processing in medical environments.
Standout Features & Integrations:
Among its features, Rectangle Health offers secure and seamless payment processing, patient payment solutions, and patient engagement tools. The platform also integrates well with numerous medical practice management systems, helping healthcare providers keep all operations under one roof.
Pros and cons
Pros:
- Smooth integration with existing practice management systems.
- Patient payment experience focus promotes increased collections.
- Specialized in secure payment processing in healthcare settings.
Cons:
- It may have features that could be more appropriate for smaller medical practices.
- A transparent pricing model is necessary for some prospective users.
- Pricing is not transparent; it requires reaching out to the company.
Best for speciality and pediatric practices with diverse billing needs
Raintree Systems is a comprehensive medical billing software designed to handle diverse billing needs, making it especially suitable for speciality and pediatric practices. This versatility helps to streamline the workflow of practices with a broad range of services.
Why I Picked Raintree Systems: I selected Raintree Systems for its strength in handling diverse billing scenarios common in specialty and pediatric practices. Its robust feature set, specifically designed for these methods, sets it apart. Thus, I recommend Raintree Systems as the best for specialty and pediatric practices with diverse billing needs.
Standout Features & Integrations:
Raintree Systems' key features include comprehensive practice management, patient engagement tools, and an intuitive billing system. These features can significantly impact the overall efficiency and revenue generation of practice. Regarding integrations, Raintree Systems links well with numerous EHR and EMR systems, enabling a comprehensive overview of practice operations.
Pros and cons
Pros:
- Comprehensive practice management features.
- Integration capabilities allow for a unified system.
- Diverse billing options cater to a wide range of practice types.
Cons:
- The user interface might seem complex to some users.
- The absence of a free trial might deter potential users.
- Higher starting prices could be a barrier for smaller practices.
Other Medical Billing Software for Small Business Tools
Below is a list of additional medical billing software for small businesses that I shortlisted but did not make it to the top 10. Definitely worth checking them out.
- TheraBill
For therapy-focused practices with scheduling integrations
- ChiroTouch
For chiropractic-specific billing and scheduling
- CareStack
Good for dental practices seeking an all-in-one practice management platform
- Valant
Good for behavioral health providers needing a specialized EHR solution
- CentralReach
Good for behavior-based health organizations needing comprehensive practice management
- iClaims
Good for organizations looking for a comprehensive insurance claims management solution
- InstaMed
Good for healthcare providers needing secure patient payment solutions
- PulsePro Practice Management
Good for improving revenue cycle management and patient care
- RXTN
Good for seamless integration of EHR, PM, and billing solutions
- EZClaim
Good for insurance billing, scheduling, and claims management
- Azalea Health
Good for rural, community, and critical access hospitals requiring a comprehensive EHR solution
- Centricity Practice Solutions
Good for organizations seeking customizable EHR and PM tools
- NueMD
Good for small to medium practices requiring an easy-to-use, comprehensive EHR and PM tool
- PracticeSuit
Good for physical therapy practices seeking a single software for practice management
- Phreesia
Good for patient intake management and care coordination
- ClinicMinds
Good for cosmetic and aesthetic clinics looking for a tailored solution
- Carevoyant
Good for long-term care providers seeking integrated clinical and financial solutions
Selection Criteria For Medical Billing Software for Small Business
When selecting the right medical billing software, several critical criteria matter the most. I sought to discover the types of billing solutions for healthcare that are ideal for small medical practices.
While evaluating these tools, I was specifically looking for a comprehensive set of features, robust core functionalities, and an intuitive user interface that doesn't compromise usability.
Core Functionality
- Insurance Eligibility Verification: This enables users to verify a patient's insurance coverage in real-time.
- Claim Processing: This lets users submit claims directly to insurance companies and manage the entire process within the tool.
- Reporting: Provides detailed reports on various financial aspects such as income, outstanding bills, etc.
- Payment Tracking: Allows tracking of patient payments and insurance reimbursements.
Key Features
- Integrated EHR: Offers a link with Electronic Health Records (EHR) for easy access and management of patient health information.
- Secure Patient Portal: A patient portal that is user-friendly and compliant with healthcare privacy laws.
- Coding and Compliance Support: Helps users ensure their claims are accurate and compliant with the latest regulations.
- Automated Billing: Streamlines the billing process through automation, reducing the chance of human errors.
- Integration with medical billing codes: The tool must support assigning billable hours to tasks through the standard system.
Usability
- Intuitive Interface: The tool should have an interface that is easy to navigate and does not require significant technical knowledge.
- Ease of Onboarding: The software should provide a smooth onboarding process with comprehensive training resources and support.
- Reliable Customer Support: As billing can involve complex and sensitive data, a reliable, responsive, knowledgeable customer support service is critical.
- Software Integration: It should easily integrate with other tools, like EHR or practice management software, for a unified workflow.
Small practices benefit immensely from a medical coding and billing expert who understands how to leverage billing software to streamline operations.
Most Common Questions Regarding Medical Billing Software For Small Businesses (FAQ's)
What are the benefits of using medical billing software for small businesses?
Understanding the purpose of medical billing and coding can help small businesses choose the most efficient software. Using medical billing software can have several benefits for small businesses. These include:
- Efficiency: Automated billing processes eliminate manual entry and reduce the chance of errors, leading to increased accuracy and faster payment cycles.
- Compliance: These tools are regularly updated to keep up with the latest changes in healthcare regulations. They guarantee that your claims are HIPAA-Compliant and have ICD-10 standards, which reduces the risk of claim denials.
- Integration: Many tools can be integrated with other software systems like Electronic Health Records (EHR), streamlining your overall healthcare management.
- Improved Cash Flow: Quick and accurate billing leads to faster reimbursements, significantly improving cash flow.
- Better Patient Satisfaction: Medical billing software can improve patient satisfaction by providing accurate billing and an easy-to-use patient portal.
How much does medical billing software cost?
The cost of medical billing software varies greatly depending on the features, the number of users, and whether it’s a standalone tool or part of a comprehensive practice management system. Some devices have a flat monthly fee, while others charge based on the number of providers or claims processed.
What are the pricing models for medical billing software?
Medical billing software can come with various pricing models. Some are subscription-based, charging a monthly or annual fee. Others may charge based on the volume of claims processed or the number of providers using the software. Some offer a tiered pricing model, where you pay more for additional features or capabilities.
What is the typical range of pricing for medical billing software?
Pricing can range from as low as $30 per month for the most basic packages to over $500 for more advanced solutions, including features like integrated EHR, patient portals, and advanced reporting.
Which are the cheapest and most expensive medical billing software?
On the lower end, options like PracticeSuite offer plans starting at around $30 per month. On the higher end, solutions like CareVoyant can cost upwards of $500 per month for their comprehensive suite of services.
Are there any free medical billing software options?
While some free options are available, they typically come with limited features. Investing in a paid software solution is generally recommended for a small business that needs robust and reliable medical billing. However, free trials are common among these tools and can provide a helpful test run before committing to a particular software.
What are medical billing services?
Medical billing services are designed to streamline the administrative process of managing healthcare claims. These services handle everything from claim submission to insurance follow-ups and rejections, ensuring timely payments and minimizing errors.
They also provide expertise in medical coding, payment posting, and handling denied claims, helping healthcare providers improve their revenue cycle management. By outsourcing medical billing, practices can reduce administrative overhead, ensure compliance with regulations, and improve financial efficiency.
What are medical billing and coding deadlines by state?
Medical billing deadlines are state-specific, often requiring claims to be filed within 30 to 90 days after patient care. Providers should stay informed on state laws and insurance policies to ensure timely submissions.
How much to charge as a medical billing specialist?
Determining how much to charge as a medical billing specialist depends on expertise, credentials, and regional demand. Many specialists start between $16 and $22 per hour, with experienced professionals earning closer to $30 or more. For more information on what professionals in this field make, see the medical billing salary guide.
Other Medical Billing Tools
Here are some other billing tools, systems, and services that might interest you.
I suggest small business owners take medical billing and coding courses to master billing software and improve revenue cycles.
Summary
Selecting the best medical billing software for small businesses requires careful consideration of several vital factors. Notably, the efficiency of the software, the capacity to remain compliant with healthcare regulations, ease of integration with existing systems, and the potential for improved cash flow are all vital considerations.
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